Idorsia Ltd’s CHF 535.5 Million Capital Increase

Niederer Kraft Frey acted as counsel to Idorsia Ltd, while Bär & Karrer acted as legal advisor to the Joint Bookrunners in this transaction.

Idorsia Lltd successfully completed a capital increase, through the sale of 23,800,000 shares by way of an at-market rights offering.

Credit Suisse, J.P. Morgan and BofA Securities acted as Joint Bookrunners in connection with the rights offering.

The gross proceeds from the offering of CHF 535.5 million will be used to support the regulatory filing and, if approved, commercial launch of daridorexant, Idorsia’s dual orexin receptor antagonist, and to fund the clinical development of its other late-stage compounds as well as early-stage pipeline assets.

Idorsia Ltd researches, develops, and manufactures pharmaceutical, biological, and diagnostic products. The Company offers drugs for the treatment of insomnia, fabry, cerebral vasospasm, resistant hypertension, and lupus. Idorsia serves patients in Switzerland.

The NKF team was led by Philipp Haas (Picture), working with Deirdre Ní Annracháin, Andrea Giger, Shu Bernet-Zhang, Sven Pinter and Stephanie Huchler.

Bär & Karrer team included Thomas U. Reutter, Alexander von Jeinsen, Rebecca Schori, Sandro Fehlmann, Susanne Schreiber and Kerim Tbaishat.

Involved fees earner: Sandro Fehlmann – Bär & Karrer; Thomas Reutter – Bär & Karrer; Rebecca Schori – Bär & Karrer; Susanne Schreiber – Bär & Karrer; Kerim Tbaishat – Bär & Karrer; Alexander von Jeinsen – Bär & Karrer; Shu Bernet-Zhang – Niederer Kraft Frey Ltd; Andrea Giger – Niederer Kraft Frey Ltd; Philipp Haas – Niederer Kraft Frey Ltd; Stéphanie Huchler – Niederer Kraft Frey Ltd; Deirdre Ni Annrachain – Niederer Kraft Frey Ltd; Sven Pinter – Niederer Kraft Frey Ltd;

Law Firms: Bär & Karrer; Niederer Kraft Frey Ltd;

Clients: Bank of America Securities; Credit Suisse; Idorsia Ltd; JP Morgan;